Global Climate Change Science News

[Brian Peacock]

The Bezos Earth fund has pumped billions into climate and nature projects. So why are experts uneasy?

“At this point, Bezos Earth Fund’s enormous presence in the climate and conservation space starts to look less philanthropical, and more like an attempt to take over the corporate governance system for its own interests and agenda.”

[Brian Peacock]

Greenhouse gases are pollutants that kill marine life, court rules

Wealthy states must cut their emissions faster than their developing peers, court says, in major step for climate justice

Greenhouse gases are pollutants that are wrecking the marine environment and states have a legal responsibility to control them, an international court has stated in a landmark moment for climate justice.

Wealthy nations must cut their emissions faster than their developing peers, the court also decided.

The statements were part of an advisory opinion (PDF,) on climate change issued on Tuesday by the international tribunal for the law of the sea (Itlos). The tribunal is responsible for interpreting and upholding the 1982 UN convention on the law of the sea (Unclos), an international treaty representing 169 countries.

It is the first time such a document has been issued by an international court.

Eselealofa Apinelu, the attorney general of Tuvalu, said it was a historic moment for small island states in their quest for climate justice. “It is an important first step in holding the major polluters accountable for the sake of all humankind.”

The opinion was requested by the Commission of Small Island States on Climate Change and International Law (Cosis), a group of nine Caribbean and Pacific island nations led by Antigua and Barbuda and Tuvalu, who are particularly vulnerable to climate breakdown and had become frustrated with the pace of international talks.

In its unanimous opinion, the tribunal stated that the oceans are warming and becoming more acidic as a direct result of carbon dioxide emitted from human activities, resulting in harm to living resources and marine life, hazards to human health and hindrance to marine activities such as fishing....

[Sean Hayden]

In Florida, the toll of climate change is colliding with the challenge of caring for an aging society. Drawn to the state’s warm weather and low taxes, baby boomers have been piling into the retirement haven for years, leaving it with one of the most elderly populations in the US. With Florida being threatened by more powerful hurricanes, commercial-property insurance costs last year surged by almost five times the national rate. Care providers contend that’s effectively slapped a new tax on an industry already grappling with labor shortages and rising supply costs. The result? More and more nursing homes are closing down while others are missing debt payments. At the same time, the costs for senior care at all levels— already exorbitant—are rising still more. This dynamic threatens to make elder care unaffordable to an ever-growing number of people. “We are headed into a train wreck,” one operator said.

https://www.bloomberg.com/news/newslett ... rain-wreck

—easy to miss

[Brian Peacock]

Aye. And yet we have an increasing number of right-wingers moaning about net zero action because it's "bad for the economy" while their friends in the financial sector are assessing future risk, doing the sums, and expecting govt to offset projected shortfalls. From July 2022...

What is the future of flood insurance?

A Bank of England report has revealed that insurance premiums covering the cost of flood risks could rise indefinitely over the next 30 years if climate action is not undertaken.

Published in May, the Climate Biennial Exploratory Scenario (CBES) indicated that a hefty loss of £334 billion could be incurred by the UK’s largest insurers and banks if global temperatures and sea levels continue to rise.

With the government reinsurance scheme FloodRe set to conclude in 2039, the high price of flood insurance policies could leave some unprotected against the financial damages caused by flooding.

As the cost of flood damage cover threatens to rise in the shadow of the climate crisis, what does the future look like for homeowners and insurers?

What did the Bank of England study reveal about the future of flood insurance?

The Bank of England report used three scenarios to analyse risks arising from the transition of a carbon-intensive economy to a net-zero one as well as the physical consequences of taking no action against rising global temperatures.

These were:

- Early Action scenario
- Late Action scenario
- No Additional Action scenario

If banks and insurers did not take action to mitigate the impact of climate change, they could potentially incur profitability drags of 10-15 percent each year...

https://geosmartinfo.co.uk/2022/07/what ... insurance/

And from today...

‘Never-ending’ UK rain made 10 times more likely by climate crisis, study says

The seemingly “never-ending” rain last autumn and winter in the UK and Ireland was made 10 times more likely and 20% wetter by human-caused global heating, a study has found.

More than a dozen storms battered the region in quick succession between October and March, which was the second-wettest such period in nearly two centuries of records. The downpour led to severe floods, at least 20 deaths, severe damage to homes and infrastructure, power blackouts, travel cancellations, and heavy losses of crops and livestock.

The level of rain caused by the storms would have occurred just once in 50 years without the climate crisis, but is now expected every five years owing to 1.2C of global heating reached in recent years. If fossil fuel burning is not rapidly cut and the global temperature reaches 2C in the next decade or two, such severe wet weather would occur every three years on average, the analysis showed...

[Brian Peacock]

No need for countries to issue new oil, gas or coal licences, study finds

The world has enough fossil fuel projects planned to meet global energy demand forecasts to 2050 and governments should stop issuing new oil, gas and coal licences, according to a large study aimed at political leaders.

If governments deliver the changes promised in order to keep the world from breaching its climate targets no new fossil fuel projects will be needed, researchers at University College London and the International Institute for Sustainable Development (IISD) said on Thursday.

The data offered what they said was “a rigorous scientific basis” for global governments to ban new fossil fuel projects and begin a managed decline of the fossil fuel industry, while encouraging investment in clean energy alternatives.

By establishing a “clear and immediate demand” political leaders would be able to set a new norm around the future of fossil fuels, against which the industry could be held “immediately accountable”, the researchers said.

Published in the journal Science, the paper analysed global energy demand forecasts for oil and gas, as well as coal- and gas-fired electricity, using a broad range of scenarios compiled for the UN Intergovernmental Panel on Climate Change that limited global heating to within 1.5C above pre-industrial levels.

It found that in addition to not needing new fossil fuel extraction, no new coal- and gas-fired power generation was needed in a net zero future...

[Brian Peacock]

Global rich must pay more to tackle climate crisis, says architect of Paris deal

Rich individuals in all countries must pay more to tackle the climate crisis, whether through taxes or charges on consumption, one of the architects of the Paris agreement has said.

There is a growing consensus on the need for some kind of global wealth tax, with Brazil, which will host the Cop climate summit next year, an enthusiastic supporter.

Meanwhile, poor countries are struggling to raise the estimated $1tn (£785bn) a year of external finance needed to help them cut emissions and cope with the impacts of the climate crisis.

Another proposal is for a frequent flyer levy, as the richest people tend to take far more flights – in any year about half of the people in the UK do not fly, for instance. Laurence Tubiana, the chief executive of the European Climate Foundation, said a levy could be targeted at business class and first class seats.

Other possible sources of revenue include a carbon tax on international shipping, which could raise billions without disrupting global trade, according to research from the World Bank. Levies on fossil fuels could also play a role.

The richest 1% of people in the world are responsible for more greenhouse gas emissions than the 66% at the other end of the scale, yet they experience little of the vulnerability to climate shocks that are causing suffering and death, mainly among poorer people....

[L'Emmerdeur]

Once again showing that it's all just a means to try to force socialism on the world.

[pErvinalia]

TAXES!!

[Brian Peacock]

At least the Chinese get things done.

[Brian Peacock]

Temperatures 1.5C above pre-industrial era average for 12 months, data shows.

[pErvinalia]

Good. It's bloody cold here at the moment.

[macdoc]

careful what you wish for

[Brian Peacock]

[Brian Peacock]

Sunday was world’s hottest ever recorded day, data suggests.

[Svartalf]

where?